Highlights
- OKX will exit the Nigerian market after accessing local regulations.
- Users are advised to review accounts and close open positions on Aug 16.
- This adds to the list of crypto firms discontinuing services in the country.
Crypto exchange OKX has announced an exit from Nigeria citing local laws amid a recent clampdown on digital assets services in the country. This adds to the ongoing regulatory debacle faced by crypto companies in the Nigerian market. The exchange has issued instructions to users as its local entity winds down operations.
OKX Is Leaving Nigeria
In a July 17 email sent to customers, OKX informed users of the discontinuation of services in Nigeria after accessing local policies. From August 16, OKX customers will no longer be able to open new trading positions or access services in the country. However, users will be able to withdraw and close open positions.
The exchange further highlighted steps for Nigerian users to review accounts before Aug 16.
This is a developing story.
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